IntoCell announced the signing of a Material Transfer Agreement (MTA) with option to license with ADC Therapeutics SA. Under the agreement, IntoCell, a South Korean biotech developing novel antibody drug conjugate (ADC) platform technologies, will provide proprietary drug-linkers developed using their proprietary Ortho-Hydroxy Protected Aryl Sulfate (OHPAS) system and payload modification technology (PMT). ADC Therapeutics, a commercial-stage biotechnology company developing next-generation ADCs, will conjugate its antibodies to IntoCell's drug-linker and perform in vitro, in vivo, and toxicology experiments.

Upon successful completion of the evaluation, ADC Therapeutics will have an option to license the technology to develop ADCs for up to six targets for global development and commercialization. IntoCell reserves all global rights for its platform technologies beyond ADC development for targets reserved by ADC Therapeutics and will receive a fee upon signing of the MTA. For each target option exercised by ADCT, IntoCell is also entitled to receive a target selection fee, potential development, regulatory, and commercial milestone payments, as well as royalties in the future upon successful achievement of each applicable milestone.